Lawmakers propose plans for State budget allocation
Deputy Nguyen Quang Huan from the southern province of Binh Duong highlighted Vietnam's reliance on foreign direct investment (FDI), which has been instrumental in achieving a nearly 7% annual growth rate.
At the meeting (Photo: VNA) |
However, he pointed out a troubling paradox: while FDI enterprises enjoy a significant trade surplus, domestic firms are struggling under the weight of a trade deficit. He argued that this imbalance underscores the urgent need to shift focus toward domestic development resources to achieve sustainable progress.
FDI has been an opportunity for growth, but it's time to pivot. Domestic resources should be the engine driving the next era of progress, he said.
In a related discussion, deputy Hoang Van Cuong representing Hanoi proposed augmenting State budget allocation for health care and education, ensuring adequate initial funding for infrastructure, followed by granting autonomy to schools and hospitals to reinvest and manage their regular expenses.
This strategy, he said, will alleviate the burden of high service fees on patients and students.
Meanwhile, deputy Ha Sy Dong from the central province of Quang Tri brought attention to the complexities surrounding the management of State Treasury deposit balances. Despite the Ministry of Finance's ongoing efforts since 2017 to transfer surplus funds from commercial banks to the State Bank, the process has been fraught with inconsistencies in timing, volume, duration, and interest rates at commercial banks' deposit auctions.
Efficient management of the State Treasury is crucial for effective monetary policy, he said, urging the NA and the Government to review regulations and swiftly remove existing bottlenecks.
See also
Amendment to tax regulation on foreign suppliers proposed
09:13 | 06/11/2024 Policy
See more news
Finance ministry proposes extending environmental tax cut on fuel products in 2025
16:47 | 05/11/2024 Policy
NA deputies call for solutions to ensure the feasibility of drug prevention and control programme
17:33 | 03/11/2024 Policy
15th NA’s 8th session to further discuss legislative, inspection work next week
16:58 | 03/11/2024 Policy
Developing education, training to serve new era of nation: PM
09:57 | 03/11/2024 Policy
Party chief clarifies major issues on new era of nation
16:06 | 01/11/2024 Policy
Việt Nam comments on upcoming US Presidential election
08:52 | 01/11/2024 Policy
Việt Nam demands China release fishermen, opposes military equipment deployment on Hoàng Sa: foreign ministry
08:46 | 01/11/2024 Policy
Vietnam sees US as strategically important partner: Deputy PM
19:33 | 31/10/2024 Policy
Vietnam hopes for close cooperation with US: Vice Spokesman
19:29 | 31/10/2024 Policy
Việt Nam, others call on US to immediately end embargo against Cuba
14:42 | 31/10/2024 Policy
Party chief’s article emphasises building of streamlined, effective political system
10:36 | 06/11/2024 News and Events
Vietnam ranks fifth in the world in tea exports
10:26 | 06/11/2024 Trade
Singapore desires to lift ties with Vietnam to highest level in 2025
10:13 | 06/11/2024 Cooperation
Vietnam to use AI technology to monitor e-commerce platform operations
10:09 | 06/11/2024 Economy
Business association launched to enhance Vietnam - Belgium economic ties
10:03 | 06/11/2024 Cooperation
Multimedia
Vietnam’s role in GMS economic cooperation
09:20 | 06/11/2024 Infographic
Practical innovations
09:15 | 06/11/2024 Science - Technology
Seven strategic directions to lead the nation into a new era
17:04 | 05/11/2024 Infographic
Delicacy of Hà Nội’s autumn
11:29 | 04/11/2024 Lifestyle
Vietnam-Cuba traditional solidarity, special friendship
10:12 | 02/11/2024 Infographic
Amendment to tax regulation on foreign suppliers proposed
09:13 | 06/11/2024 Policy
Lawmakers propose plans for State budget allocation
08:43 | 06/11/2024 Policy
Finance ministry proposes extending environmental tax cut on fuel products in 2025
16:47 | 05/11/2024 Policy
NA deputies call for solutions to ensure the feasibility of drug prevention and control programme
17:33 | 03/11/2024 Policy
Efforts to bring electricity to remote villages of Ha Giang Province
15:15 | 04/11/2024 Energy
Vietnamese F&B industry works to catch up with green consumption trend
17:38 | 03/11/2024 Industry
PM calls for Qatar's support for energy development in Việt Nam
08:56 | 01/11/2024 Energy
Efforts made to create breakthrough in Vietnam's automobile industry
09:28 | 31/10/2024 Industry
Foxconn to invest US$80 million in Bắc Giang for chip manufacturing expansion
16:16 | 04/11/2024 Investment
Da Nang to invest additional 16 million USD into software park
17:19 | 03/11/2024 Investment
PM receives heads of leading investment firm, authority of Qatar
09:07 | 01/11/2024 Investment
Forum suggests suitable orientations for green development strategy in Lam Dong
15:44 | 31/10/2024 Investment
Krungsri proposes accelerating purchase of 50% of SHBFinance’s charter capital
15:46 | 05/11/2024 Finance-Banking
Finance ministry proposes two price management scenarios for year-end
10:11 | 04/11/2024 Finance-Banking
Banking sector prioritises support for import-export firms
16:35 | 02/11/2024 Finance-Banking
Smart Banking 2024 workshop and exhibition held
15:32 | 31/10/2024 Finance-Banking
Workshop looks to address environmental management issues in industrial areas
16:34 | 05/11/2024 Environment
More accurate forecasts at all levels needed to reduce coastal disaster risk
15:07 | 04/11/2024 Environment
Nearly-98-million-USD environment project inaugurated in Ninh Thuan
10:13 | 03/11/2024 Environment
Northern region to experience first cold weather of this winter
14:30 | 31/10/2024 Environment
Practical innovations
09:15 | 06/11/2024 Science - Technology
Technology “key” to attract FDI
09:09 | 05/11/2024 Science - Technology
HCM City partners with Google for Education in digital transformation
14:47 | 04/11/2024 Science - Technology
Việt Nam develops 'purely Vietnamese' generative AI
09:45 | 01/11/2024 Science - Technology
1,400 ha Phu My port planned in Binh Dinh
09:52 | 06/11/2024 Society
Prime Minister orders strict action on 'Three Nos' fishing vessels by November 20
09:06 | 06/11/2024 Society
WB, Switzerland help boost Viet Nam’s sustainable urban development
16:53 | 05/11/2024 Society
VRA proposes over $7.2b for Lào Cai-Hà Nội-Hải Phòng-Quảng Ninh Railway project
09:22 | 05/11/2024 Society
Hà Nội’s Phú Xuyên District promotes OCOP craft village products through digital channels
09:23 | 06/11/2024 Vietnamese Brands
190 businesses win Vietnam National Brand Award 2024
10:33 | 05/11/2024 Vietnamese Brands
Vietnamese AI firms have many chances of development
14:51 | 04/11/2024 Vietnamese Brands
Cooperatives play significant role in OCOP product development
14:45 | 04/11/2024 Vietnamese Brands
Famous musical star Philip Quast to perform and share experiences in Hà Nội
09:40 | 06/11/2024 Culture
'Cải lương' guru performs in TV programme
09:34 | 06/11/2024 Culture
Calligraphy exhibition highlights literary masterpieces
10:53 | 05/11/2024 Culture
VN int’l fashion week Fall/Winter 2024 prepares to open
11:38 | 04/11/2024 Culture
Govt plans survey for tourism resources
09:29 | 06/11/2024 Tourism
Time Out lists Vietnam among Top 5 Memorable Christmas Escapes in Asia
10:27 | 05/11/2024 Tourism
Foreign travellers' interest in northern regions still strong after typhoon
14:15 | 04/11/2024 Tourism
Ninh Bình Festival to boost historical heritages of VN’s former capitals
14:10 | 04/11/2024 Tourism